Citereum, the self-styled ‘coin of the city’ says it wants to create a network to accommodate a future of self-driving vehicles, rail, ships cars and drones by creating a decentralized platform where services can be purchased, sold and discovered using the CITERIUM token. It says that even before the ‘blockchain’ era begins, its technology can create opportunities for on-demand and manned rides and deliveries.

Powered by ERC20 smart contracts, the platform will allow for secure transactions and ‘trustless’ cooperation between all the vehicles and service providers within the Citereum ecosystem. Early participation is incentivised and there will be low barriers to market entry.

Owners of the currency gain by earning Citereum through Advance Rewards Funding, token staking, and lending. A Referral Program also allows users to be paid daily dividend rewards on their funds.

Crowdsale with a difference?

Although there are no details of the team involved in the ICO in its whitepaper, the online document does reflect Citereum’s steadfast position on the ‘use’ of its token rather than simply a means of trading. 

The whitepaper states: “Our plan fоr this сrоwdѕаlе ICO iѕ tо be different, in thаt wе аrе hopefully lаunсhing a coin thаt реорlе will buу bесаuѕе it hоldѕ vаluе tо thеm аnd thеу асtuаllу wаnt to use it, rather than juѕt trаdе it аt thе soonest chance they gеt. We аrе nоt ѕеlling a company share, equity оr ѕесuritу. Thiѕ is a соin whiсh hаѕ a rеаl-wоrld application, but you саn сhооѕе tо rеѕеll in thе futurе ѕhоuld уоu wish. It’ѕ аn imроrtаnt diѕtinсtiоn.”

The paper also states that there will be a natural supply and demand through market fluctuations as there will only ever be 14 Million Citereum coins minted.

Citerium’s presale was launched on April 1st and the main ICO (due to be launched on May 1st) will last until June 26 . Only Bitcoin and Ethereum can be used to purchase Citereum during the ICO phase